National Mortgage News, Sept. 2, 2022–Brad Finkelstein (subscription)Mortgage lender choice among credit scoring model alternatives reportedly took a step closer to reality, as both Fannie Mae and Freddie Mac supposedly …
Category: Top National News
Risky Cash-Out Refinance Loans Now Double in Volume
Mortgage Professional America, Sept. 2, 2022–Candyd MendozaThe latest Milliman Mortgage Default Index estimates the default risk for government-sponsored enterprise acquisitions – purchased and refinanced loans backed by Freddie Mac and …
Amazon Closes, Abandons Plans for Dozens of US Warehouses
Bloomberg, Sept. 2, 2022–Matt Day, Spencer SoperMWPVL International Inc., which tracks Amazon’s real-estate footprint, estimates Amazon has either shuttered or killed plans to open 42 facilities totaling almost 25 million …
Rising Mortgage Rates Complicate Decision on Buying Versus Renting
Wall Street Journal, Sept. 2, 2022–Ben Eisen, Nicole Friedman (subscription)“The ratio is a great indicator for households deciding ‘should we rent or should we go ahead and buy?’” said Edward …
Housing Beat for Sept. 1: A Shifting Market With Problematic Data
ValueWalk, Sept. 1, 2022–Phil HallThis week’s housing industry news showed a continued deceleration in mortgage applications, the first increase in time on market in more than two years and a …
Non-QM Impairments Rise 2 Months in a Row for First Time Since 2020
National Mortgage News, Sept. 1, 2022–Bonnie Sinnock (subscription)otal impairments on securitized non-qualified mortgage payments in July rose for two months in a row for the first time since 2020, according …
Review of Federal Home-Loan Banks Is Planned
Wall Street Journal, Sept. 1, 2022–Andrew Ackerman (subscription)Bob Broeksmit, head of the Mortgage Bankers Association, which represents nonbank lenders, said his group welcomed the review. “There’s a need for an …
Risky Business: Financial System Needs to Be More Resilient in Face of Disasters
National Mortgage Professional, Sept. 1, 2022–Lew SichelmanWho owns all the risk when buyers ignore all those warnings about climate change and move into regions or even neighborhoods susceptible to floods, …
Wells Fargo Economist: Housing Market ‘Worse Than It Looks’
National Mortgage Professional, Sept. 1, 2022–David KrechevskyWells Fargo Senior Economist Mark Vitner told the San Francisco Business Times that it’s only a matter of time before the true nature of …
MBA Economists: The Overcapacity that Still Needs to Be Cut
HousingWire, Aug. 31, 2022–Mike Fratantoni, Marina Walsh, CMB, Joel KanMBA economists address a key question: “How much overcapacity was there in the industry for this level of volume, and how …